Venezuelan president tries out new powers

[7962]

Source: Yahoo news

Caracas (AFP) - Venezuelan President Nicolas Maduro exercised new emergency powers for the first time Thursday, signing decrees limiting business profit margins and tightening regulation of imports.

He acted as part of a so-called "economic war" against a crisis for which he blames the opposition "bourgeoisie" and imperialism.

Under new powers granted to Maduro on Tuesday, the two new laws aim to control prices and profits in the business sector and closely monitor imports and exports and hard currency that comes in from oil sales, Venezuela's main source of revenue.

Read more: http://news.yahoo.com/venezuelan-president-tries-emergency-powers-071959194.html

[Dreamer Tatum]

1. Viva Maduro! nt

[Bradical79]

47. It's incredibly stupid

to want to give an executive power to rule by decree.

[MyNameGoesHere]

2. I wish we had free press in the US

so there could be an unbiased analysis of the policy. I mean, I read it and it seems something normal one would do if there were people gaming the system and taking advantage of loopholes that furthered their profits. However once again the anti-everything but making money hand over fist, and the "socialism is evil" crowd make it difficult to know if Maduro may have a legitimate gripe.

[brooklynite]

22. "Free" doesn't equal "Unbiased"

...unless your definition of "unbiased" is "someone who agrees with you".

[MyNameGoesHere]

23. Free from influence maybe is a better way to

say it. However if you think it is free, good for you. It is working.

[Laelth]

3. Here, we see the probable future of the United States.

As I type this, Americans under the age of 30 prefer socialism to capitalism. Demographic trends tell us that the Republican Party, at the national level, can not win a Presidential election. In all likelihood, we will have a powerful, liberal government within the next ten years. The people will demand it.

What, then, will our capitalists do? They'll pout, they'll launch a coup, and they will work to bring down the system--just as Venezuela's capitalists are doing now. Why? Because they can, and because they resent the loss of power. We may win, but they will make us suffer for it as long as they can.

That said, I hope, quite honestly, that I am wrong.



-Laelth

[Jkid]

6. Coups can be prevented through security intelligence

In the domestic arena. The instant they find chatter about coups, the FBI should immediately arrest them for treason.

[Ash_F]

10. Wasn't there a Republican politician that was talking about a coup just the other day?

Over Obama's Judicial appointments?

I think he's probably doing ok.

[Theyletmeeatcake2]

34. Win or lose , they will make you suffer!!!

It gets to a point when the people have nothing to lose....and there is no check on the ruling classes...ideologues who just parrot Chicago school and AUstrian economists without thinking big picture... Some here think Chavez inherited the garden of Eden the way they carry on!!

[Bradical79]

48. Hopefully

A liberal government would not lead to dictatorial powers being given to the executive branch.

[Javaman]

4. I have to admit, after reading the headline, my first thought was...

"can he see through walls?"

[Arcanetrance]

7. Pretty short news story

Not much in the way of facts or real background on the issue was presented. I would actually like to read more with facts that don't have a bias for or against. Tightening regulations on imports to try and boost domestic production and sales to me sounds like a great idea to try and get the local economy going

[7962]

8. I did find a couple other stories, but they pretty much say the same thing

http://www.newsdaily.com/world/8e863ecc8a7952e6ded30822af98212a/venezuelan-president-makes-use-of-decree-powers

http://www.foxnews.com/world/2013/11/21/venezuelan-president-uses-new-decree-powers-to-extend-grip-over-economy/

Time will tell. So far he hasnt shown me very much economic knowledge, but its early in his tenure.

[Arcanetrance]

9. I just refuse to judge him and his running of his country as an outsider not knowing all

More

On edit I wouldn't link to foxnews

[hack89]

11. Great way to crash the economy. Nt

[Arcanetrance]

12. May I ask why

Personally I would think putting strict limits on imports in order so that the domestic product is more readily avaliable would actually stimulate a local economy. Because the demand rises so more workers become employed.

[hack89]

13. Factories are not going to magically appear out of nowhere

And only a fool would invest in a VZ factory knowing that the government can and will take it away on a whim.

The core economic problem VZ faces is capital flight as it's citizens desperately try to get their money into a safe haven where skyrocketing inflation won't destroy its value. To combat this, Hugo implemented currency controls in 2003 that have led their present economic meltdown. The government tightly controls the amount of dollars which means that businesses have to buy dollars on the black market if they want to buy goods to import. This means either higher costs or companies going out of business.

[Arcanetrance]

15. Hmmm I admittedly don't know as much as I'd like about Venezula

I will have to some googling

[Theyletmeeatcake2]

27. Be careful those facts are dangerous things!!!!!!

You'll be a stand out on these VZ threads....

[Arcanetrance]

32. Lol facts might not make one popular but they make one correct

I'd rather be correct in what I'm saying and have knowledge of a subject than be popular

[7962]

20. Good to see a simple statement that pretty much sums it up.

Your first sentence says what many here seem to want to ignore. And with the number of posts you have I doubt you'll be considered a "troll"!

[Judi Lynn]

21. Successful trolls often stay indefinitely.

They just learn to control their tempers better than ordinary, ignorant trolls. Same "values."

[7962]

31. So he's a troll because "he" has an opinion that differs from yours?

You need to check out a Snowden thread if you want to see dissension on DU! I guess those are FULL of trolls?

[U4ikLefty]

35. Since you haven't been here very long, I'll excuse your ignorance

Many "trolls" are allowed to continue their BS on DU while other real liberals are kicked out in haste.

I could give you examples galore, but like many of my friends I would be banned. Hell, in today's DU climate I may be banned for this post.

[7962]

39. Actually, I see your point

Mainly because the 1 post I ever had "blocked" by jury was absolutely ridiculous, imo. It was not "disruptive, hurtful, rude, insensitive, over-the-top, or otherwise inappropriate." No one could honestly say it fit that description. 4 people just didnt like it. Which is the only thing about DU that I dont like. Like you said, Ive only been a member a few years, but read here for many more before that. It seems that as time has gone by comments about some people have gotten more disgusting, yet allowed to stay. And heaven forbid if you EVER post something that is not considered to be "correct"!
Its "Democratic Underground", not Communist Underground.

And if you got banned for that post, I may just give up on this for good!

[davidpdx]

33. True, I think they have taken over many foreign businesses in the last few years

That means those who invested in the country lost all of their capital. Oil is the only thing they have going for them, but that won't be enough. VZ is a part of OPEC which essentially decide how much capacity each country will put out. If they increase output, that's going to piss off the other OPEC countries because it will lower the price of oil.

Also consider if the sanctions on Iran are lifted (which is possible, but not likely to happen right away). More Iranian oil on the open market would be bad for VZ as well.

[geek tragedy]

14. No, it will create product shortages. Which are already happening due to price controls.

Also, Venezuela doesn't have much of a manufacturing economy.

When you take away any prospect of making money, businesses decide to stop making and selling stuff in your country.

Venezuelan currency is worthless outside of Venezuela.

Venezuela is heading the way of Zimbabwe.

[Arcanetrance]

16. My understanding was that the government owned much of the manufacturing and industry in general

in Venezula. I know they rely heavily on oil I would think they'd manufacture the stuff to extract and refine there which would help their economy

[geek tragedy]

17. The issue isn't the oil industry/extraction, it's everything else.

Venezuela has to import 70% of its food. Food importers will stop selling to Venezuela due to a lack of dollars to pay for the food (nobody will take Bolivars). Then what?

Chavez certainly had the right economic priorities, but socialism like any other system will be a disaster if not implemented properly. Unlike Chavez, Maduro is an economic imbecile who is ruining socialism in Venezuela.

[Arcanetrance]

18. Wow 70% that's a ridiculous amount for a nation to import for food

[Theyletmeeatcake2]

28. They do have a debt/GDP ratio half that of the US and have trading surpluses

It's a living!

[stevenleser]

44. They are the 5th highest oil producing country. It should be much better than that.

They have a number of important successes and a number of crippling failures. I am not sure what they are doing is close to being sustainable.

[Theyletmeeatcake2]

50. As long as the oil price stays up they'll manage to get by,

Even without your tick of approval...this is not a basket case like Greece we're talking about here! This is a country rich in natural assets that are not being utilised to it's full extent and that's why various industries have been targeted by the government because opposing interests have encouraged things like leaving farms,factories to lie idle...we're talking about the same interests that almost were successful in ousting Chavez with a short lived coup...the same interests that made VZ a basket case to start with...were you in favour of these interests or is your view purely economic??

[stevenleser]

52. Not sure about that as their oil production continues to drop precipitously

There are a lot of negative indicators in their economy. Do you not want to address those simply because you want them to succeed?

[christx30]

54. What oil company

would want to contract with them to drill, when the VZ government will not pay them, and can (and probably will) just come in and steal the equipment? If you wanna know why production keeps dropping, look there.
Sure hope a soldier can be trained to drill for oil.

[U4ikLefty]

36. How much food does Saudi Arabia import?

since you have the numbers & (I'll assume) will provide a link.

[stevenleser]

45. Yeah, I'm not sure the food import metric is an important one. nt

[geek tragedy]

49. I believe around 80%.

But there are no food shortages there.

[EX500rider]

58. "How much food does Saudi Arabia import?"

Really, that's your go to comparison country for food growth? A desert country with 59mm avg of rain a year Vs lush Venz. with 1,875mm a year?
http://data.worldbank.org/indicator/AG.LND.PRCP.MM

Although population wise they are about equal with S.A. at 28 million and Venz. with 29 million. But Saudi has a GDP of 711 billion vs 381 billion for Venz. Venz.'s GDP could be that high if they didn't mismanage their oil fields and production and scare away the needed foreign technical help.

[stevenleser]

37. We may not see that in this case because of VZ's oil resources.

It's hard for even very foolish policies to destroy the economy in an oil rich country.

We'll see.

[hack89]

40. When you spend more than you make

Last edited Sat Nov 23, 2013, 04:08 PM - Edit history (1)

it makes no difference how much oil you have. And don't forget that oil production has been steadily falling as foreign capital has dried up.

And oil will not overcome sky high inflation - they have no control over global oil prices.

[Judi Lynn]

19. Kinda crazy seeing yet another article on the "special powers."

We endured article after article when Hugo Chavez was given them by the legislators, as if this had never happened before, when it was well known multiple Venezuelan Presidents had used them previously. The difference was the other Presidents were the ones who kow-towed to U.S. interests first, above the interests of the majority of Venezuelan people.

Other Latin American Presidents have themselves requested and used the same powers, and they were NEVER gibbered about endlessly by the US corporate media.

It makes a lot more sense to research these events yourself, from multiple sources, and find the truth for yourself. It's dead wrong to allow the political assassins to form your perceptions for you.

You'll know the truth when you see it, after you do the searching. Good luck.

[hack89]

24. It is the stupid things he is doing with those powers that interest me

This is not going to end well - VZ is learning the hard way that you ignore basic economics at your peril.

[Theyletmeeatcake2]

25. Yes indeed, don't give those poor people money as they don't know how to use it properly

While you're at it don't give them a vote as they won't vote the 'right way'...stop being so paternalistic and realise dem folks can do without our superior help!!!

[hack89]

30. I don't think you understand what is happening in VZ

their economic melt down is self inflicted due to poor fiscal policy, specifically their restrictive currency controls that limit access to dollars.

[Ranchemp.]

41. You don't get it, do you?

The economic mess is self inflicted, the Ven. govt is spending more than they take in, plus the country's electrical infrastructure is a mess and failing, the highest crime rate in Latin America, chronic shortages of basic goods, all due to massive mismanagement by the govt coupled with rampant corruption within the govt.

This is not due to outside foreign meddling, this is internal ineptness by the Chavez, now Maduro, regime.

[Zorro]

26. I think things are about to get real ugly

...“They have given me an iron fist,” he declared after the National Assembly approved the decree powers. “What you have seen is nothing compared to what I’m going to do...”

http://www.telegraph.co.uk/news/worldnews/southamerica/venezuela/10468615/Nicolas-Maduro-steps-up-offensive-against-bourgeoisie-with-profit-limits.html

[mwrguy]

29. Think about what Obama could accomplish.

We could learn a lot from Venezuela

[joshcryer]

38. Closest we've got to is the line item veto.

But I personally would prefer my leader not have decree powers. He's the same person who wanted to put everything on the table.

[Ranchemp.]

42. No.

[stevenleser]

43. Our problems are not that our Executive branch is lacking in power. nt

[Bradical79]

46. Hell no.

I have no interest in giving any president the power to rule by decree. That's an incredibly stupid thing to wish for.

[hack89]

51. Think what Bush could have done with such powers. nt

[Judi Lynn]

56. Hmmmm. Makes you wonder.

Obama Rolls Back Unconstitutional George W. Bush Signing Statement Policy
By Robert Schlesinger

~snip~
The New York Times' Charlie Savage (whose Takeover remains the seminal work on the Bush administration's imperial presidency) reports:

Calling into question the legitimacy of all the signing statements that former President George W. Bush used to challenge new laws, President Obama on Monday ordered executive officials to consult with Attorney General Eric H. Holder Jr. before relying on any of them to bypass a statute.

Mr. Bush frequently used signing statements to declare that provisions in the bills he was signing were unconstitutional constraints on executive power, claiming that the laws did not need to be enforced or obeyed as written. The laws he challenged included a torture ban and requirements that Congress be given detailed reports about how the Justice Department was using the counter-terrorism powers in the USA Patriot Act.

Dating back to the 19th century, presidents have occasionally signed a bill while declaring that one or more provisions were unconstitutional. Presidents began doing so more frequently starting with the Reagan administration. But Mr. Bush broke all records, using signing statements to challenge about 1,200 bill sections over his eight years in office—about twice the number challenged by all previous presidents combined, according to data compiled by Christopher Kelley, a political science professor at Miami University in Ohio.

Just process that for a second. Over eight years, Bush signed bills into law and then unilaterally proclaimed that some of the laws he had just enacted didn't count. That's crazy. And dangerous.

More:
http://www.usnews.com/opinion/blogs/robert-schlesinger/2009/03/09/obama-rolls-back-unconstitutional-george-w-bush-signing-statement-policy

[msanthrope]

53. I'll take the checks and balances, thank you. nt

[hughee99]

55. In Venezuela, they seem to be using this power to crash the economy.

Lets hope we learn that turning your own currency into Monopoly money isn't going to fix your economic problems.

[JackRiddler]

57. Yeah, he could push through TPP.